What is Forward Air's cash ratio?

Forward Air (FWRD) reported cash ratio of 0.3× in Q1 2026.

How has Forward Air's cash ratio changed year-over-year?

Forward Air's cash ratio increased by 19.9% year-over-year, from 0.3× to 0.3×.

What is the long-term trend for Forward Air's cash ratio?

Over 5 years (2020 to 2025), Forward Air's cash ratio has grown at a 11.0% compound annual growth rate (CAGR), from 0.1× to 0.2×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

Forward Air FWRD Cash ratio

Cash ratio at other companies

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0.5×+0.3×

C.H. Robinson WorldwideCHRW

0.1×0.0×

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0.7×+0.3×

United Parcel Service, Inc.UPS

0.4×+0.1×

XPO

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0.1×0.0×

RXORXO

0×0.0×

Other financials

Income statement

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Revenue$582.0M-5.1%

Operating income$20.4M+329%

Net income-$34.3M+32.2%

EPS (diluted)-$1.09+35.1%

Balance sheet

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Cash & equivalents$141.0M+20.9%

Total debt$2.2B-0.1%

Total equity$81.0M-47.6%

Total assets$2.7B-3.9%

Cash flow

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Operating cash flow$45.7M+65.6%

CapEx$6.9M-41.7%

Free cash flow$38.8M+147%

Valuation

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Market cap$451.92M-33.0%

Enterprise value$2.46B-9.2%

P/S0.2×-0.1×

Profitability

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Gross margin48.7%—

Operating margin2.2%+1.1pp

Net margin-3.7%-1.7pp

FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp

Debt / equity26.5×+12.6×

Current ratio1.2×+0.1×

Where this comes from

Calculated from Forward Air’s reported figures.

cash and equivalents/total current liabilities=0.3×

Based on the most recent quarter.

The official record: Forward Air’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Forward Air's cash ratio?: Forward Air (FWRD) reported cash ratio of 0.3× in Q1 2026.
How has Forward Air's cash ratio changed year-over-year?: Forward Air's cash ratio increased by 19.9% year-over-year, from 0.3× to 0.3×.
What is the long-term trend for Forward Air's cash ratio?: Over 5 years (2020 to 2025), Forward Air's cash ratio has grown at a 11.0% compound annual growth rate (CAGR), from 0.1× to 0.2×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.